India, February 19, 2024– PedalStart, a leading startup accelerator, proudly unveils the commencement of its Series-2 fund, securing a substantial $250,000 to bolster early-stage startups. Following the resounding success of its inaugural internal company fund launch of $250K, deployed to 5-7 founders, PedalStart starts its next phase of catalyzing innovation and entrepreneurship within the startup community.
The primary objective of this fund is to allocate capital to 5-7 promising early-stage startups who have demonstrated notable progress and execution over preceding three to six months.
These startups will be selected after a rigorous selection process that Pedalstart is doing while taking the startups for the acceleration process. Pedalstart aims to build a startup founders community that exhibits exceptional potential and promise.
Commenting on the launch, Manas Pal, and Aditya Darolia, the Founders of Pedalstart, said “We’re elated to extend our support to the burgeoning pool of entrepreneurs through the launch of our Series-2 fund. At PedalStart, our unwavering commitment lies in empowering startups with the resources and guidance necessary to navigate the competitive sphere and emerge as trailblazers. The infusion of funds from our Series-2 initiative will catalyze these startups to propel their growth and realize their vision. We extend a warm invitation to all enterprising founders to seize this opportunity and begin the transformative journey with PedalStart. Together, we can forge a future brimming with innovation, resilience, and boundless possibilities”.
PedalStart will orchestrate the selection process for identifying the recipients of the fund through a meticulous vetting procedure, emphasizing the execution and performance exhibited by startups within PedalStart’s Accelerated Startup. By scrutinizing the growth trajectory and scalability potential of each contender, PedalStart aims to identify 5-7 startups poised for exponential growth, expansion, and impact who will receive funds from the internal company fund launch. Just by being part of the unique platform, entrepreneurs gain as they become part of a large and influential community of entrepreneurs forged by Pedalstart. Since inception Pedalstart community has grown to 10,000 startups, over 300 mentors and 1600 founders.
